Vistry Group has agreed to sell 1,750 new homes to Blackstone Real Estate and Regis Group for £580 million (€681 million/$739 million).
The portfolio would be managed by Leaf Living, a leading provider of private rented sector housing that is backed by funds managed by Blackstone and Regis.
The portfolio, which is concentrated in the South-East of England and is largely plots from Vistry’s former Housebuilding landbank, consists of 1,750 homes across 36 Vistry developments. The homes would be pre-sold in line with Vistry’s Partnerships strategy of pre-selling c. 65 percent of all homes across the business and will help the group drive toward its medium-term financial targets. The first completions under the agreement are expected by the end of June 2024, with the majority of homes expected to complete within the next two years.
“By working in partnership with organizations like Leaf Living, we can maximize the number of high-quality homes we deliver eve